Title
Receive Natividad Medical Center's Financial Report for the fourth quarter (April 2023 thru June 2023) of fiscal year 2023.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors' Budget Committee receive Natividad Medical Center's Financial Report for the fourth quarter (April 2023 thru June 2023) of fiscal year 2023.
SUMMARY/DISCUSSION:
The average daily inpatient census (ADC) for the quarter was 129.3 compared to the budget of 123.0. NICU, Psychiatric, ICU and OBGYN patient days were below budget for this period, while Med/Surg, PEDS, and Rehab census were higher than budget. Patient days for the quarter were 5.1% higher than budget due to increased Med Surg and Rehab patients in the quarter. The average adjusted patient days (including inpatient and outpatient volumes) were 16,864 compared to a budget of 15,627, favorable by 7.9%. Emergency Department visits for the quarter were 15,353 or higher than budget by 15.2%.
The total net margin for the quarter was positive (revenues more than expenses) at a gain of $1.6 million compared to the budget net margin of $1.3 million. Included in revenues was a one-time remaining payment from Kaiser of $981 thousand from a Kaiser settlement related to trauma contract rates and the excess reimbursement of provider fees of $743 thousand.
Net patient revenues totaled $78.8 million for the quarter compared to a budget of $70.7 million. Net patient revenues were significantly higher than budget by $8.2 million or 11.5% due to favorable trauma payor mx and collections, the Kaiser patient claims settlement of $981 thousand, excess provider fees of $743 thousand, strong inpatient days and outpatient visits. Revenues from Government Funding were $20.4 million compared to the budget of $17.0 million. The higher revenues from other operating revenues resulted significantly from increased interest income due to the higher interest rate for the third quarter.
Operating expenses for the quarter were $10...
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